证券代码：300115 证券简称：长盈精密 公告编号：2025-23 深圳市长盈精密技术股份有限公司 关于注销 2020 年向特定对象发行项目募集资金专户的公告 本公司及董事会全体成员保证公告内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 鉴于深圳市长盈精密技术股份有限公司（以下简称"长盈精密"或"公司"） 2020年向特定对象发行股票募投项目之"5G智能终端模组项目"、"上海临港新 能源汽车零组件（一期）项目"已完成建设并达到预定可使用状态，前述项目募 集资金专户的资金已按规定用途使用完毕或计划不再使用。经公司第六届董事会 第十九次会议、第六届董事会第二十二次会议审议通过，公司已将前述项目节余 募集资金共计2,999.10万元（含利息等收入）转至相关子公司基本账户，用于永 久补充公司日常经营所需的流动资金。公司对相应的募集资金专户办理了注销手 续。现将有关情况公告如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意深圳市长盈精密技术股份有限公司向 特定对象发行股票注册的批复》（证监许可〔2020〕2304号）核准，并经深圳证 券交易所同意，公司向特定对象非公开发行人民币普通股（A股 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [2] Core Views - The company has shown significant improvement in profitability, with a revenue of 16.93 billion and a net profit of 0.772 billion in 2024, marking a year-on-year increase of 23.4% and 800.2% respectively [6] - The focus on consumer electronics and new energy components has driven recovery in profitability, with the company actively pursuing new projects in AI robotics and smart equipment [6][12] - The forecast for 2025-2027 indicates continued revenue growth, with projected revenues of 19.81 billion, 22.79 billion, and 26.20 billion respectively, alongside net profits of 0.878 billion, 1.207 billion, and 1.429 billion [12][13] Summary by Sections Financial Performance - In 2024, the company achieved a total revenue of 16.93 billion, a year-on-year increase of 23.4%, and a net profit of 0.772 billion, reflecting a significant recovery in profitability [6] - The gross margin for 2024 was 18.5%, a decrease of 1.3 percentage points year-on-year, while the net margin improved to 5.0%, an increase of 3.9 percentage points [6] - The first quarter of 2025 saw a revenue of 4.40 billion, a year-on-year increase of 11.6%, with a net profit of 0.170 billion, down 43.4% year-on-year due to previous gains from equity disposals [6] Business Segments - The consumer electronics segment generated 11.69 billion in revenue, up 15.4% year-on-year, while the new energy segment saw revenue of 5.21 billion, a 47.3% increase [6] - The robotics and smart equipment segment reported a decline in revenue to 0.03 billion, primarily due to equity dilution from a subsidiary [6] Future Outlook - The company is expected to continue benefiting from the recovery in consumer electronics and new energy sectors, with management optimization likely to enhance profitability [6] - The collaboration with key clients in the robotics sector is anticipated to provide significant growth opportunities, positioning the company as a potential assembler of robotic components [6][12]

Investment Rating - The investment rating for the company is "Accumulate" [5] Core Views - The company's Q1 2025 performance met market expectations, with a revenue of 4.395 billion yuan, a year-on-year increase of 11.55%. However, the net profit attributable to shareholders decreased by 43.44% to 175 million yuan, primarily due to last year's investment gains from the disposal of subsidiary equity. The non-recurring net profit attributable to shareholders increased by 32.85% to 168 million yuan [1][2] - The gross margin slightly improved to 18.96%, up by 1.26 percentage points year-on-year, while the expense ratio decreased by 0.69 percentage points to 12.58%, indicating ongoing cost control efforts [3] - The company is focusing on a "dual pillar + artificial intelligence" strategy to enhance its global layout, aiming to strengthen its traditional consumer electronics business while expanding its new energy business, particularly in energy storage systems. The company is also developing its artificial intelligence innovation business, targeting humanoid robot core components and high-speed communication products [4] Financial Summary - The company forecasts revenue for 2025-2027 to be 18.877 billion, 21.838 billion, and 24.383 billion yuan, representing year-on-year growth of 11.5%, 15.7%, and 11.7% respectively. The net profit attributable to shareholders is expected to be 865 million, 1.007 billion, and 1.168 billion yuan, with growth rates of 12.1%, 16.3%, and 16.0% respectively [8][10] - The earnings per share (EPS) for 2025-2027 are projected to be 0.64, 0.74, and 0.86 yuan, with corresponding price-to-earnings (PE) ratios of 33.04x, 28.40x, and 24.48x [8][10]

证券代码：300115 证券简称：长盈精密 公告编号：2025-21 深圳市长盈精密技术股份有限公司 本公司及监事会全体成员保证公告内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 1、会议通知的时间和方式：深圳市长盈精密技术股份有限公司（以下简称"公 司"）第六届监事会第十八次会议（以下简称"本次会议"）通知和会议议案于 2025 年 4 月 24 日以书面方式向全体监事发出。 2、会议召开的时间、地点和方式：本次会议于 2025 年 4 月 28 日上午 10:30 以 通讯方式召开。 3、会议出席情况：本次会议应出席监事 3 人，实际出席监事 3 人。 4、会议主持人为监事会主席陈杭先生。公司董事会秘书和证券事务代表列席了 本次会议。 5、本次会议的合法、合规性：本次会议的召集、召开均符合《中华人民共和国 公司法》(以下简称"《公司法》")和《深圳市长盈精密技术股份有限公司章程》(以 下简称"《公司章程》")等的有关规定。 二、监事会会议审议情况 1、审议通过了关于公司《2025 年第一季度报告》的议案 第六届监事会第十八次会议决议公告 公司《2025 年第一季度报告 ...

Revenue and Profitability - The company's revenue for Q1 2025 was CNY 4,395,138,974.74, representing an increase of 11.55% compared to CNY 3,939,925,853.67 in the same period last year[4]. - Net profit attributable to shareholders decreased by 43.44% to CNY 174,874,009.78 from CNY 309,206,630.92 year-on-year[4]. - The net profit excluding non-recurring gains and losses rose by 32.85% to CNY 168,160,801.90, compared to CNY 126,580,622.47 in the same period last year[4]. - Basic earnings per share decreased to ¥0.13 from ¥0.26, reflecting a decline of 50%[19]. - Net profit for the current period was ¥191,726,979.22, down 40.67% from ¥323,692,765.45 in the previous period[19]. Cash Flow - The net cash flow from operating activities dropped by 66.07% to CNY 146,633,264.73, down from CNY 432,171,800.13 in the previous year[4]. - The net cash inflow from operating activities was $146,633,264.73, a decrease of 66.0% compared to $432,171,800.13 in the previous period[22]. - Cash received from operating activities totaled $4,206,251,003.91, compared to $3,853,842,165.43 in the previous period, indicating a growth of 9.1%[22]. - Cash paid for operating activities was $4,059,617,739.18, an increase from $3,421,670,365.30, reflecting a rise of 18.6%[22]. - The net cash inflow from financing activities was $1,003,182,338.63, a substantial increase from $284,199,001.47 in the previous period[23]. Assets and Liabilities - The company's total assets increased by 4.68% to CNY 21,113,234,050.32 from CNY 20,168,411,952.21 at the end of the previous year[4]. - Total liabilities rose to ¥12,570,849,440.06, up from ¥11,843,474,796.58, indicating an increase of 6.14%[15]. - The company's equity attributable to shareholders reached ¥8,135,396,569.38, an increase from ¥7,970,648,977.38, representing a growth of 2.07%[15]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 160,036[9]. - The largest shareholder, Ningbo Changying Yuefu Investment Co., Ltd., holds 32.76% of shares, totaling 444,188,111 shares[9]. - The company has no changes in the top 10 shareholders due to securities lending or borrowing activities[10]. Inventory and Receivables - Accounts receivable decreased from CNY 3.14 billion to CNY 2.87 billion, reflecting a reduction of approximately 8.3%[13]. - Inventory decreased from CNY 3.70 billion to CNY 3.43 billion, a decline of about 7.3%[13]. - The total current assets increased to CNY 11.31 billion from CNY 10.47 billion, representing a growth of approximately 8.1%[13]. Financing Activities - Cash and cash equivalents increased by 36.28% to CNY 74,698.59 million, primarily due to increased cash flow from financing activities[7]. - Long-term borrowings rose by 60.64% to CNY 70,991.23 million, attributed to the increase in medium to long-term loans[7]. - The net cash flow from financing activities increased by 252.99% to CNY 71,898.33 million, driven by new borrowings[7]. Research and Development - Research and development expenses for the current period were ¥306,143,989.19, up from ¥279,031,973.42, indicating an increase of 9.73%[18]. Stock Option Incentive Plan - The company plans to adjust its stock option incentive plan, reducing the total number of granted stock options from 24,653,620 to 14,251,698[11]. - The second exercise period of the stock option incentive plan has a 60% achievement rate based on the company's performance in 2023[12]. - A total of 125 incentive participants exercised their options, resulting in 305,274 shares being exercised during the reporting period[12].

本公司及董事会全体成员保证公告内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 证券代码：300115 证券简称：长盈精密 公告编号：2025-20 深圳市长盈精密技术股份有限公司 第六届董事会第二十三次会议决议公告 表决结果：7 票同意，0 票反对，0 票弃权。 1、会议通知的时间和方式：深圳市长盈精密技术股份有限公司（以下简称"公司"） 第六届董事会第二十三次会议（以下简称"本次会议"）通知和会议议案于 2025 年 4 月 24 日以书面方式向全体董事发出。 2、会议召开的时间、地点和方式：本次会议于 2025 年 4 月 28 日上午 10:00 以通 讯方式召开。 3、会议出席情况：本次会议应出席董事7名，实际出席董事7名，其中独立董事3名。 4、会议主持人为董事长陈奇星先生；公司董事会秘书列席了本次会议。 5、本次会议的合法、合规性：本次会议的召集、召开程序和议事内容均符合《中 华人民共和国公司法》(以下简称"《公司法》")和《深圳市长盈精密技术股份有限公司 章程》(以下简称"《公司章程》")的规定。 二、董事会会议审议情况 1、审议通过了关于公司《2025 年 ...

Core Viewpoint - Longying Precision achieved record high operating performance in 2024, with significant growth in revenue and net profit driven by its core businesses in precision components for consumer electronics and new energy products [1][2]. Financial Performance - In 2024, Longying Precision reported revenue of 16.934 billion yuan, a year-on-year increase of 23.4% [2] - The net profit reached 772 million yuan, marking a staggering year-on-year growth of 800.24% [2] - The net profit excluding non-recurring gains and losses was 531 million yuan, reflecting a remarkable increase of 2750.7% [2] - The company experienced a recovery from a loss in 2021, with net profits of 42.38 million yuan in 2022 and 85.70 million yuan in 2023 [2]. Business Segments - The growth was attributed to the dual drivers of precision components for consumer electronics and new energy products, alongside new ventures in robotics and intelligent equipment [1][3]. - Revenue from the consumer electronics segment was 11.691 billion yuan, up 15.39% year-on-year, supported by a 6.4% increase in global smartphone shipments and growth in PC product sales [2][3]. - The new energy business saw revenue increase by 47.29% to 5.214 billion yuan, aided by the ramp-up of production capacity in various locations [3]. R&D and Innovation - Longying Precision maintains a high R&D expenditure rate, consistently between 7% and 10% of revenue, with R&D expenses exceeding 1.2 billion yuan annually from 2022 to 2024 [1][7]. - In 2024, the company added 272 new patents, including 132 invention patents, and had a total of 2002 effective patents by year-end [7]. Financial Structure and Cost Management - The company successfully reduced financial expenses by 64.5% to 73.71 million yuan in 2024, with the fourth quarter showing a negative financial expense of -51.09 million yuan [7][8]. - The asset-liability ratio decreased to 58.72%, the first time below 60% in four years, down from 66.99% in the previous year [8]. Dividend Distribution - Longying Precision announced a cash dividend distribution for the first time in three years, proposing a payout of 1.3 yuan per 10 shares, totaling 176 million yuan, which is 22.85% of the net profit for 2024 [4][5].

Core Insights - Longying Precision delivered impressive annual results for 2024, achieving total revenue of 16.934 billion yuan, a year-on-year increase of 23.40%, and a net profit attributable to shareholders of 772 million yuan, a significant increase of 800.24% [1][2] - The company's growth outpaced the average growth rate of the consumer electronics industry and significantly exceeded that of peers in the new energy vehicle components sector [1][2] Financial Performance - The company's operating cash flow net amount reached 2.259 billion yuan, a modest increase of 1.36% year-on-year, while the gross profit margin slightly decreased by 1.24 percentage points to 18.53% [2][8] - The net profit margin improved significantly from 1.1% to 4.96% [2] Business Segments - Longying Precision's revenue structure consists of three main segments: new energy components and connectors (5.214 billion yuan, 30.79% share, 15.71% gross margin), consumer electronics (7.516 billion yuan, 44.38% share, 19.88% gross margin), and electronic connectors (3.545 billion yuan, 20.93% share, 19.63% gross margin) [5] - The new energy segment was the fastest-growing, with revenue increasing by 47.29% year-on-year, driven by the release of production capacity for power battery structural components [6] Market Trends - The global consumer electronics market showed signs of structural recovery in 2024, with smartphone shipments increasing by 6.4% to 1.24 billion units and AI personal computer shipments soaring by 165.5% [4] - Longying Precision's consumer electronics business generated 11.691 billion yuan in revenue, a year-on-year increase of 15.39%, largely attributed to significant contributions from international clients, particularly Apple [4][5] Strategic Developments - Longying Precision has deepened its involvement in the production of M3 chip MacBook Air, which saw over 60% year-on-year sales growth [5] - The company is also expanding into the humanoid robot sector, having established a subsidiary focused on precision components for smart robots and forming partnerships with leading companies in the field [7] Challenges - Despite strong performance, Longying Precision faces challenges such as a decline in gross margin and high accounts receivable, which stood at 3.137 billion yuan, representing 406.6% of net profit [8][9]

Core Viewpoint - Longying Precision achieved significant growth in 2024, with total revenue reaching 16.934 billion yuan, a year-on-year increase of 23.40%, and net profit attributable to shareholders soaring by 800.24% to 772 million yuan, despite a low dividend payout ratio of 22.85% raising market concerns [1][9] Group 1: Consumer Electronics Business - The global consumer electronics market showed signs of recovery in 2024, with smartphone shipments increasing by 6.4% to approximately 1.24 billion units [4] - Longying Precision's revenue from the consumer electronics segment reached 11.691 billion yuan, up 15.39% year-on-year, driven significantly by international clients [4] - There remains room for improvement in market share within the consumer electronics sector, necessitating product structure optimization and enhanced technological content to address future market fluctuations [4] Group 2: New Energy Business - Revenue from the new energy segment reached 5.214 billion yuan, marking a year-on-year growth of 47.29% [5] - The gradual release of production capacity from battery component manufacturing bases in various regions supports the rapid growth of the new energy business [5] - Participation in industry events, such as the second Beijing Chain Expo, has enhanced the company's market visibility and laid a solid foundation for future business expansion [5] Group 3: Robotics and Intelligent Equipment - The rapid development of generative AI and large language models has propelled humanoid robots into commercial applications [6] - Longying Precision accelerated the construction of humanoid robot production capacity and increased R&D investment, securing projects with several domestic and international clients [6] - Although still in its infancy, the robotics and intelligent equipment sector holds significant market potential, with ongoing technological advancements expected to drive future growth [6] Group 4: Global Production Base Development - The construction of global production bases progressed rapidly in 2024, with multiple domestic and overseas projects advancing as planned [7] - Cost management initiatives across various factories have significantly improved the company's cost management capabilities, ensuring sustainable profitability [7] - Despite successful progress, challenges remain in overseas market operations due to policy risks and competitive pressures [7] Group 5: Team Building and Employee Satisfaction - Longying Precision has enhanced its management capabilities through a stable team built via external recruitment and internal development [8] - The implementation of a new salary structure has improved employee motivation and satisfaction [8] - Continued investment in talent acquisition and development is necessary to meet future business expansion and market competition demands [8] Group 6: Dividend Policy - The company plans to distribute a cash dividend of 1.3 yuan per 10 shares, totaling 176 million yuan, which represents only 22.85% of the net profit for 2024 [9] - The low dividend payout ratio, despite significant profit growth, has raised concerns among investors regarding future returns [9] - There is an expectation for the company to increase its dividend payout ratio to enhance investor confidence [9]

Group 1 - Longying Precision (300115.SZ) released its 2024 annual report on April 18, 2025, with 156 institutional investors holding a total of 534 million shares, accounting for 39.38% of the total share capital [1] - The top ten institutional investors collectively hold 37.79% of the shares, with a decrease of 2.45 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, one fund, Huazhong Qianyu Bond Initiation A, increased its holdings, while five funds, including Jin Ying Technology Innovation Stock A and Southern CSI 1000 ETF, reduced their holdings by 0.69% [2] - A total of 140 new public funds were disclosed this period, including Guangfa CSI 1000 ETF and Huaxia Growth ETF [2] - One foreign fund, Hong Kong Central Clearing Limited, reduced its holdings by 0.84% compared to the previous quarter [2]